Bitcoin News and Finance: What You Need to Know

Compass Mining, a bitcoin mining firm, published a blog post stating that Bitmain, the company behind the application-specific integrated circuit (ASIC) mining rig, has made changes to its design. The post advised miners to be aware of the changes as Compass Mining identified “three issues” with two different Antminer S19 series mining devices. Bitcoin Miner Compass Mining Identifies 3 Issues with Antminer S19 Series Compass Mining, a bitcoin mining company, posted a blog post titled “Bitmain Changed Its ASIC Design. Miners Need to Be Ready,” highlighting changes in Bitmain’s ASIC design. Compass believes bitcoin mining facility operators should be aware of the changes, which could cause issues. For example, the firm identified three problems with the Antminer S19, producing 90 terahash per second (TH/s), and the S19 XP, offering 140 TH/s. William Foxley of Compass Mining explains that the new machines lack a peripheral interface controller (PIC) on the ASICs, making it harder to ...

The organization representing Russia’s crypto and blockchain sector has urged Vladimir Putin to spur regulatory efforts. The association fears the Russian Federation may lag behind other nations if it maintains its conservative approach towards new financial technologies. Russian Crypto Businesses Want Putin to Engage With Regulatory Process The Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain (Racib) has called on President of Russia Vladimir Putin to back the crypto community in shaping the country’s regulatory framework for cryptocurrencies and related technologies. In a letter to the Russian head of state, its members warn that the government’s attitude towards digital asset regulation poses “serious risks of the economy lagging behind in the introduction of new financial technologies,” crypto news outlets Bits.media and RBC Crypto reported. The organization insists that the current state policy does not allow Russian companies to take advantage ...

Bitcoin remained in consolidation earlier in Tuesday’s session, as markets prepared for this afternoon’s testimony from Fed Chair Powell. The head of the U.S. Federal Reserve will be speaking in front of the Senate Banking Committee later in the day. Ethereum was also largely unchanged, as it traded close to a support point. Bitcoin Bitcoin ( BTC ) continued to trade sideways on Tuesday, as market uncertainty remained high ahead of Fed Chair Powell’s testimony. Many believe that Powell will give some forward guidance into the Federal Reserve’s current thinking, and how aggressive they may be in their upcoming meeting. BTC /USD fell to a low of $22,356.62 earlier in the day, less than 24 hours after trading at a high of $22,584.29. Looking at the chart, today’s move sees the world’s largest cryptocurrency continue to trade above a floor at $22,300. This coincides with the 14-day relative strength index (RSI) also hovering above its own point of support at 42.00. At the time of w...

PRESS RELEASE. Shellboxes, a leading Web 3 company with top-level blockchain security and consulting services, has announced its commitment to help project owners stay protected amid rising cyberattacks in the industry. The Shellboxes team has raised the alarm over the carefree attitude of most Web 3 project owners who pay little to no attention to the growing risk of cyberattacks. According to a report by Chainalysis, 2022 witnessed the most significant loss of crypto assets to hackers. The report revealed a whopping $3.8 billion was stolen, mainly from DeFi protocols. As the risk of these cyberattacks increases in the Web 3 space, ShellBoxes is advising Web3 project owners to take the security of their platform/project seriously. These owners need to ensure their projects undergo robust and thorough security audits. Some project owners settle for low-tier quality audits with the sole purpose of laundering the business’ brand image instead of the security of the project. ShellBoxe...

While interest in digital assets has waned in some parts of the world, in the Middle East and Northern Africa adoption of crypto has been skyrocketing according to Mustafa Kheriba, the executive chairman of the asset management firm Iceberg Capital Limited. According to Kheriba, factors such as high inflation and residents’ desire for high-return investment opportunities have drawn many to cryptocurrency. The Many Benefits of Blockchain Despite the bearish conditions that persisted in much of 2022, according to Mustafa Kheriba, the executive chairman of Iceberg Capital Limited, interest and adoption of crypto and blockchain has not dissipated. To support this assertion, Kheriba pointed to the 23rd State of the Developer report which suggests that most experienced software developers are “most likely to be working on blockchain projects.” Nevertheless, the Iceberg Capital Limited executive chairman told Bitcoin.com News interest has particularly been surging in the Middle East an...

Three Russians are going to spend time in high-security prison for stealing over a million U.S. dollars’ worth of cryptocurrency from another man. In addition, the court has also ordered them to fully compensate the victim for the damages, prosecutors announced. Robbers Get Prison Sentence for Cryptocurrency Theft in Russia A court in the Russian city of Omsk has issued a verdict in a criminal case against three men from Moscow who extorted a large amount of digital currency from a man in Siberia. Two of them have been found guilty of robbery and forgery of documents and the third one of fraud. In July 2021, these individuals learned that a resident of Omsk owned significant crypto funds. They traveled all the way from the capital to the Siberian city where they followed the victim for about 10 days, examining his movements and daily routines. On the day of the attack, they stopped the man on the street, presented fake IDs and forced him into a car. Later, they took away 3 million...